The Hindu : Legislative nod for hiking FDI in print media mooted

Online edition of India's National Newspaper
Wednesday, Jul 17, 2002

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Legislative nod for hiking FDI in print media mooted

By Our Special Correspondent

NEW DELHI JULY 16. Now that the Government has decided to allow 26 per cent Foreign Direct Investment (FDI) in print media, the Congress president, Sonia Gandhi, has suggested that Parliament pass a law making legislative approval mandatory for any further changes to the print media policy of the country.

This was mooted by Ms. Gandhi while addressing the general body meeting of the Congress Parliamentary Party here today. Stating that 26 per cent FDI was a fait accompli, she said: "We can have a discussion in Parliament on the safeguards to be introduced to protect national interest. We can even pass a law in Parliament that any future changes to the 26 per cent rule will require legislative approval.''

While accepting 26 per cent FDI in print media as inevitable, Ms. Gandhi wondered whether there was any connection between the Government's decision and the criticism it attracted in the media for the way it handled the violence in Gujarat. "Could it be a coincidence that in response to the independent and objective reporting on the State-sponsored riots in Gujarat, the Government reopened a dormant issue, ignored the report of the Standing Committee of Parliament, ignored public opinion and went ahead to allow 26 per cent foreign equity in print media''

Ms. Gandhi was also critical of the assaults on the media by the BJP-led Government. "Journalists exposing corruption in high places continue to be harassed. Members of the defence services are being court-martialled but politicians caught on camera for receiving bribes go scot-free while investigative journalists have been subjected to continuing harassment and persecution,'' she said.

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